Cohasset High Net Worth Divorce Lawyer

Cohasset High Net Worth Divorce Attorney

Cohasset spouses going through a divorce often find peace of mind with the guidance of a seasoned Cohasset high net worth divorce lawyer. Even in amicable separations, negotiations can quickly break down, leading to costly and drawn-out litigation that can jeopardize your financial security. If you are a high earner seeking divorce in Massachusetts, a knowledgeable divorce attorney can offer personalized strategies to protect your assets and your future.

At Farias Family Law, P.C., our highly skilled divorce team is committed to safeguarding your financial well-being and addressing important matters such as child custody while upholding the highest standards of integrity, excellence, and client service throughout every stage of the divorce process.

How Divorce Can Affect Your Finances in Massachusetts

Massachusetts is an equitable distribution state. This means during a divorce, a judge may determine a division of marital assets that is “fair.” Marital property can include possessions and interests obtained by either spouse during the marriage, as well as debts owed. For high-net-worth families, this can mean liquid and non-liquid assets, real estate holdings, business ownership, or the value of a professional practice.

Though equitable distribution can sometimes lead to a 50/50 division, this is not always the case.  When determining a fair, equitable division of marital property, Massachusetts judges consider factors such as:

• The length of the marriage
• The health and age of each spouse
• Current income of both parties
• Each spouse’s income-earning ability
• Other financial obligations and needs

A poorly managed divorce can result in considerable asset loss, significant tax consequences, and long-term financial obligations.

Key Factors to Consider in a High Net Worth Divorce in Cohasset

A surface-level understanding of asset division, alimony, and child support in a Massachusetts divorce is not sufficient to secure a fair and favorable settlement. There are additional factors you should consider before finalizing the details of your settlement in your high-net-worth divorce:

• Asset Division Can Be Complex: Determining the worth of high-value assets such as stocks, investment accounts, and retirement or pension plans is not straightforward. You may require the assistance of financial and legal professionals to ensure these assets are adequately valued and thus accurately accounted for in the divorce settlement.
• Alimony and Child Support Amounts Can Add up: Thanks to a ruling by the Massachusetts Supreme Court in Cavanagh v. Cavanagh, alimony amounts are now calculated independently from child support amounts, which can result in one party being liable for high monthly support payments.
• Prenuptial/Postnuptial May Be Challenged: Even if your prenuptial or postnuptial agreement appears legally sound, it can still be subjected to scrutiny in a Massachusetts court if it is improperly executed or perceived as unfair.

For individuals in Cohasset, where the median household income between 2019 and 2023 was estimated at $187,060 per year, a poorly handled divorce can significantly drain financial resources and jeopardize your stability and legacy

How a Cohasset High Net Worth Divorce Lawyer Can Assist You

Given the potential pitfalls high-net-worth individuals can face during a divorce and the immeasurable financial losses that may result without adequate support, it is strongly recommended that high earners in Cohasset seek guidance from a knowledgeable high-net-worth divorce lawyer

Hiring a seasoned divorce attorney from Farias Family Law, P.C., means you are backed by a local attorney with deep knowledge of the Norfolk Family Court at 35 Shawmut Rd in Canton. Our attorneys have participated in hundreds of divorce-related mediations, settlement negotiations, and litigations involving high earners and individuals with substantial financial assets.

Here are ways we help with the divorce process:

• We provide personalized legal solutions to your unique financial situations.
• We connect you with skilled professionals to assess asset values and tax implications.
• We engage in strategic negotiation and aggressive litigation on your behalf.
• We ensure your divorce is handled as discreetly as possible.

Divorces can become complicated, especially when tensions are involved. According to a 2024 report by Fidelity, nearly 25% of couples surveyed cited money as the most significant challenge in their marriage. Even in the most amicable separations, financial disagreements can drive a wedge between spouses and leave one party at a significant disadvantage

Despite Massachusetts’ progressive reputation, a 2023 report by consultancy agency Nielsberg found women working full-time earned, on average, $15,175 less per year than their male counterparts. Securing a fair financial settlement is key if you are looking to maintain a similar lifestyle post-divorce.

FAQs

Q: What Is a High Net Worth Divorce?

A: A high net worth divorce involves a couple that has substantial combined financial assets, typically over seven figures. High net worth divorces can be complex when they involve marital property such as business interests, investment assets, real estate, and luxury items. It is recommended that individuals work with qualified high net worth attorneys to ensure their assets are adequately valued and fairly divided based on Massachusetts divorce laws.

Q: How Are Complex Assets Valued and Divided in a Cohasset Divorce?

A: The value of complex assets, including stock options, retirement and pension accounts, trusts, and professional practices, is determined through a detailed assessment by forensic accountants, asset appraisers, and financial analysts. In Cohasset, Massachusetts, these assets are divided according to the state’s equitable distribution model, which strives to provide a fair division of marital property based on numerous factors.

Q: How Is Spousal Support Determined in MA?

A: Spousal support calculation in MA entails assessing the financial situation of both parties in a divorce. Typically, a person is issued alimony if they are financially dependent on their former spouse and may not be able to support themselves in the short term. The length of the marriage plays a key role in how long one party may be required to pay alimony to their former spouse.

Q: How Are Assets Split in a Divorce in Massachusetts?

A: Assets in a divorce in Massachusetts are split based on the equitable distribution principle. First, a court must decide which assets qualify as marital property and establish the value of the assets. The net value of the total marital property after debts are paid is then divided based on several factors, including each spouse’s contribution to the marriage, the length of the marriage, and each spouse’s earning capacity.

Allow a Trusted Cohasset High Net Worth Divorce Lawyer to Offer You Guidance

If your divorce involves the division of business assets, real estate, or complex investment portfolios, our dedicated legal team is here to advocate for your interests with the highest level of discretion. Let us provide you with the support you need to proceed in your high-net-worth divorce with confidence and assurance. Contact us today.